Reynolds Consumer Products Inc. (NASDAQ:REYN) Receives $29.67 Consensus PT from Analysts

Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) have earned an average recommendation of “Hold” from the six research firms that are covering the stock, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a hold rating. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $31.00.

A number of research firms have issued reports on REYN. JPMorgan Chase & Co. boosted their target price on Reynolds Consumer Products from $29.00 to $33.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Barclays boosted their target price on Reynolds Consumer Products from $28.00 to $29.00 and gave the company an “equal weight” rating in a research note on Thursday, August 8th. Canaccord Genuity Group upped their price objective on Reynolds Consumer Products from $30.00 to $32.00 and gave the stock a “hold” rating in a research report on Thursday, August 8th. Finally, Royal Bank of Canada upped their price objective on Reynolds Consumer Products from $31.00 to $32.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 8th.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of REYN. International Assets Investment Management LLC boosted its stake in Reynolds Consumer Products by 467.9% during the 4th quarter. International Assets Investment Management LLC now owns 2,442 shares of the company’s stock valued at $66,000 after purchasing an additional 2,012 shares during the last quarter. Strs Ohio boosted its position in shares of Reynolds Consumer Products by 27.9% during the 4th quarter. Strs Ohio now owns 89,678 shares of the company’s stock valued at $2,406,000 after acquiring an additional 19,572 shares during the last quarter. Cornercap Investment Counsel Inc. lifted its position in Reynolds Consumer Products by 2.5% in the 4th quarter. Cornercap Investment Counsel Inc. now owns 17,225 shares of the company’s stock worth $462,000 after buying an additional 416 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Reynolds Consumer Products by 14.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,665 shares of the company’s stock worth $394,000 after buying an additional 1,864 shares during the last quarter. Finally, KLCM Advisors Inc. lifted its position in Reynolds Consumer Products by 112.6% in the 4th quarter. KLCM Advisors Inc. now owns 522,891 shares of the company’s stock worth $14,034,000 after buying an additional 276,898 shares during the last quarter. 26.81% of the stock is owned by institutional investors.

Reynolds Consumer Products Trading Down 0.1 %

NASDAQ REYN opened at $29.91 on Wednesday. The stock has a 50-day simple moving average of $28.01 and a 200 day simple moving average of $28.39. The company has a market capitalization of $6.29 billion, a PE ratio of 19.05 and a beta of 0.47. The company has a current ratio of 2.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.92. Reynolds Consumer Products has a 12 month low of $24.80 and a 12 month high of $31.01.

Reynolds Consumer Products (NASDAQ:REYN) last posted its earnings results on Wednesday, August 7th. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.02. Reynolds Consumer Products had a return on equity of 17.09% and a net margin of 8.88%. The firm had revenue of $930.00 million during the quarter, compared to analysts’ expectations of $890.71 million. During the same period in the previous year, the firm earned $0.32 earnings per share. The company’s revenue was down 1.1% on a year-over-year basis. Research analysts forecast that Reynolds Consumer Products will post 1.66 EPS for the current year.

Reynolds Consumer Products Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 3.08%. The ex-dividend date is Friday, August 16th. Reynolds Consumer Products’s dividend payout ratio is currently 58.60%.

About Reynolds Consumer Products

Reynolds Consumer Products Inc produces and sells products in cooking, waste and storage, and tableware product categories in the United States and internationally. It operates through four segments: Reynolds Cooking & Baking, Hefty Waste & Storage, Hefty Tableware, and Presto Products. The Reynolds Cooking & Baking segment produces aluminum foil, disposable aluminum pans, parchment paper, freezer paper, wax paper, butcher paper, plastic wrap, baking cups, oven bags, and slow cooker liners under the Reynolds Wrap, Reynolds KITCHENS, and EZ Foil brands in the United States, as well as under the ALCAN brand in Canada and under the Diamond brand internationally.